By Joanne Hoffer, M.B.A.

As a caregiver, you have an extremely difficult job on top of your “regular" job.  Your caregiving role is a lot of work and very important, but the pay is terrible and the vacation policy is even worse.

You may be looking for ways to supplement your income to help make ends meet, or have a little extra spending money for yourself—you deserve it!

Many programs exist which promise you great money from home with little or no risk. If it seems too good to be true, it probably is. Here are some ideas to help you think of ways to work from home and evaluate potential business options.

Overall, there are three main characteristics you should look for in any opportunity:

• It's very low or no-cost
  Try something that is easy to test out.  If the idea takes off, great!  If not, at least you tried, but you are not out any money.
  
• It allows you to work from home
  The best business ideas are ones that allow you to do most of the work from your house in hours that you can determine.
  
• It's low-stress
  Caregiving itself can be a very stressful (and wonderful) experience. But, it can often give you a lot to worry about. The last thing you need is more!  In evaluating an opportunity, ask yourself “If I’m going through a tough time in my caregiving role (e.g. a hospitalization), will I still be able to meet my commitments?”

Creating a Business

Even if you have not been in the “traditional” work force in years, trust me, I know you’ve been working! Make a list of what you enjoy doing, and think if there is any way to make it a business opportunity-you’d be surprised!!

1. Web design
   Have a family Website?  You’ve got Web design skills!  You may not be ready to create corporate Websites (yet!), but you can certainly design and create small sites for local businesses.
   
2. Geriatric care management
   Take the knowledge you’ve gained caring for your loved one and share it with others. To become a member of the National Association of Professional Geriatric Care Managers (www.caremanager.org) you must hold a college degree in a field related to care management, but you can become an affiliate member without one.
   
3. Knitting, beading, and sewing
   Check out local upscale children’s clothing boutiques and wedding shops. If you look at their merchandise and think,
   “I could do that!”—do it!

These are just a few of many opportunities out there (baking, custom invitation printing, running errands for others, etc….) Think hard about what you can do, what you like to do, and what type of commitments you can make. 

Make a mini business plan (follow the "4 Ps")

You don’t need to create an extensive document, just make sure you’ve thought about all the basics up front.  An easy way to do this is to follow the model of the 4 P’s”:

• Product
• Price
• Promotion
• Placement

Product

Now that you’ve made your skill list, what exactly is the product or service you are selling? 

Price

How are you going to price your product or service?  Remember, retailers typically take a 100% mark-up. Therefore, any way of selling directly to the customer enables you to keep more of the selling price. Or, if you’re willing to decrease your own profit a bit, you may price competitively and snag customers away from your rivals! You’ll make more money by sheer volume.

If you are going to sell a service, think about how long it is going to take you to complete or deliver the service. Are you going to charge by the hour or by the job?  If there is any travel involved, don’t forget to think about that when you create your price. 

Promotion

How are you going to find customers for your product or service?

• Make business cards and carry them with you at all times. Hand them out at every opportunity you have, and don’t just give ONE out; always give out two or three. Also, always carry a pen with you to write down contact information of people you meet.
• Use every free and inexpensive opportunity you have! Make flyers (always with tear off tags) and post everywhere that’s appropriate. You’ll find community message boards at places like doctor offices, grocery stores, and churches. You have nothing to lose but the price of the paper they’re printed on!   

Especially for a service based business, it may be important to create even a basic Website. It offers you the opportunity to provide upfront information on your service, and if you have customers email you, you can answer when it’s convenient for you. You should put the Website address on all of your advertising materials, as well as on your business cards. While it may be scary to think about creating a site, if you live near a college, you can probably find a student who can make one for you for a very reasonable price.

Placement

(This should really be called “Distribution” but it doesn’t start with a “P”). This will depend on what product or service you sell.  You can scale your business up or down depending on what your responsibilities are at home, and you don’t have to pay a retailer mark-up. 

For a service based business, think about how you want to deliver your service- in person, over the phone, or via the internet.  Often, a face to face meeting with a customer is important up front and the rest of the work can be done from home. 

Follow Up 

Last but not least, always follow up with your customers to see if they are satisfied, and if they have any feedback or suggestions for you. Not only will you have satisfied customers, but this will also help you continuously improve your business.

To get feedback or ideas from other caregivers on your new business idea, please post to our Take this Job… Message Board.